Touchdown for Panattoni in Manchester
Panattoni confirmed today that it is to open a Northern Office in Manchester headed up by Daniel Burn. Established in 1986 and headquartered in California, Panattoni is the largest privately owned industrial developer in the world having delivered buildings for over 2,500 customers. In the last 2 years the European platform alone has completed over 40m sq ft of warehousing facilities and only last week was re-confirmed by PropertyEU as the largest new-build industrial developer across Europe for the second year running.
To head up its Northern platform, Panattoni have appointed senior property specialist Daniel Burn. Burn brings to the business over 18 years of transactional experience in both an agency and development capacity. The company intends to develop speculatively logistics warehousing in buildings of up to 1,000,000 sq ft across the Northern Markets and along the M6, M62 and M1 corridor. Earlier this month, the Company broke ground on its latest 235,000 sq ft speculative build project in Crewe.
Following the merger with First Industrial last year, Panattoni has established itself as the largest speculative developer in the country and has allocated £525,000,000 for new UK land purchases in 2018/19. Across the UK, Panattoni is currently underway with over 3,500,000 sq ft of development and is actively acquiring additional premium sites.
Matthew Byrom, Managing Director at Panattoni explains: “The rapid growth of e-commerce and the on-going structural changes in the retail sector have provided an unprecended opportunity for growth. Last quarter we saw the highest take-up of new build warehouseing in the UK since records began and we see the supply starved Northwest and Yorkshire market as key targets for our business.”
Burn, who has previously held senior positions at King Sturge, JLL and DB Symmetry enthuses: “Panattoni have quickly established a market leading position in the Midlands and South with its bold and ambitious approach to speculative development….when offered the opportunity to replicate this in the North, I didn’t hesitate to accept”.
Panattoni have confirmed they would be making further significant announcements over the coming months.
Issue date: Monday 18th June 2018